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Federation Council revises 3-year budget

February 20, 2008 | RBC

Russia's Federation Council has adopted a draft law amending the 2008-2010 federal budget and revising the mid-term forecast for major macroeconomic indices. According to the document, total federal budget spending is to be increased by RUB 331.3bn (approx. USD 13.51bn) in 2008, RUB 831.6bn (approx. USD 33.92bn) in 2009, and RUB 944.6bn (approx. USD 38.43bn) in 2010. The additional funds are to be allocated for the social sector. Meanwhile, budget revenue forecasts for 2008-2010 have been raised by RUB 1.4 trillion (approx. USD 57.1bn), RUB 1.2 trillion (approx. USD 48.9bn), and RUB 1.3 trillion (approx. USD 53bn), respectively.

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